So why reserve banks do not accept taxes in the form of Bitcoin? (Reserve banks do not accept bitcoin yet but claim that they accept bitcoin) otherwise it only shows that that governments just want to generate fiat money out of thin air. Governments should blame themselves, instead of showing their hypocrisy by cracking down on bitcoin.
Umm! Ideally, Fiat isn't generated out of thin air! For every million generated by the government, there are repercussions on the whole economy so it needs to be very smartly done. Talking about why Reserve Banks do not accept taxes in form of bitcoin. Taxes are basically a cut from what you have earned. Now Imagine if Reserve Bank starts collecting taxes in form of gold? People who earn in fiat will rather start buying gold and then deposit their taxes, in this buying price of gold would dramatically increase and therefore people who would pay their taxes late would end up paying much more tax than what is required. Moreover, it's a futile exercise. For this sake of simplicity, taxes are collected in legal tender only. Fact: There is no anything like money laundering but governments want to buy BTC
The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.
Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP.The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.
